This

Is

Absolutely

Fucking

Insane

How are statists this crazy? How does someone participate at any level of this situation and not think “Yeah this is the most absurdly tyrannical thing that I’ve ever done and I have no idea why I’m doing this…” nostr:note1gqsums9n8mdj0gvqdlgd9kt09lf4cjw7pca820u3kr6wcfn0787s7phf7t

82 1,000,000 sat⚡️ left to go

Japanese parents are crazy - small kid on lap in the front seat. Nobody bucked up. Child seats with unlatched seatbelts. Just bouncing around.

Bitcoin Transaction Fees and UTXO Management

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- when bitcoin blocks are full, highest fee transactions are confirmed first

- your bitcoin wallet may show a single balance but the reality is that it is made of many different unspent transaction outputs (UTXOs)

- when you make a bitcoin transaction your wallet will select as many UTXOs as necessary to reach the amount of bitcoin you wish to send

- onchain transaction fees are calculated based on size in bytes not the amount of sats sent

- the more utxos required on the input side the higher the fee paid

- from a cost perspective you want to consolidate utxos, fewer utxos with larger amounts

- consolidation has privacy tradeoffs though: you link any UTXOs you consolidate as owned by the same person + larger UTXOs mean you will dox more of your stack to anyone you pay in the future

Therefore you want to reduce the number of UTXOs you have while being mindful of the privacy concerns.

Lightning Transaction fees are calculated differently: based on the amount in sats sent. Opening lightning channels when fees are low can enable you to save money in the future when fees rise. 🤙